A dwelling containing five apartment units is considered a multiple-family dwelling, which typically makes it ineligible for coverage under a standard dwelling policy. Dwelling policies are primarily designed to cover residential properties that are used as one- to four-family dwellings. Since this property exceeds that limit, it cannot be adequately covered under a traditional dwelling policy.
The purpose of dwelling policies is to provide insurance for rental homes or properties that are not owner-occupied, provided they meet the specified criteria of being single-family or up to four units. Since five units exceed this threshold, that's why the answer accurately indicates that such a dwelling is not eligible for coverage under a dwelling policy.
While there could be specialty markets or endorsements that allow for broader definitions of what can be insured, those would typically fall outside standard dwelling policy parameters, reaffirming the understanding that the standard options do not cater to this type of property.